Cost Concepts

cost theory and its behavior
Free tutorial
Rating: 4.7 out of 5 (15 ratings)
601 students
35min of on-demand video
English
English [Auto]

Understand the concepts of cost
Understand the cost behavior
Understand types of cost
Understand what Fixed costs are and variable costs are

Requirements

  • No prior knowledge of Costing is required. This course is built to introduce the concept and build upon gradually thereafter. Best suited even for beginners. Guarantees Concept clarity for those who have a bit of prior knowledge.

Description

The aim of this short lecture is to introduce concepts of cost to the viewer. Gradually widen the knowledge base from there upon to explain components of costs, classification and the nature of its behavior in relation to the levels of output in both the short run and in the long run. 

One should be able to distinguish the nature of costs incurred and cost per unit of output clearly after this course. Cost behaviors in respect to levels of output and time are explained in simple yet crisp terms.

Cost curve depiction on a graph; both in short run and long run are clearly cited with examples. The average cost curves are but an extension of the above and are clearly explained in this course.

A tabulated data of examples of cost at varied levels of output are discussed in detail to make the concept come alive for the viewer. This task of a real life example will ensure that the concept is drilled down with clarity with no room for confusion.

In all, this is the best introductory course on cost concepts that will set the stage for advanced concepts of costing and cost accounting. Once the base foundation is laid on the rest is as simple as building blocks of a solid structure on it,

I hope this course delivers what it intends. I urge the viewers to reach out in case of any queries or further clarifications. I value your opinions and would greatly appreciate if you could leave your feedback and your review. This would encourage and also help improve the course content for the better.


Who this course is for:

  • Both beginners and students with intermediary level knowledge on the topic

Instructor

Swetha Sanath
  • 4.5 Instructor Rating
  • 27 Reviews
  • 966 Students
  • 2 Courses

To my academic credit I have a Bachelors degree in Commerce (B. Com),  Chartered Accountant (CA) and a Certified Public Accountant (CPA), who has a passion to share knowledge. Occasional blogger and actively engaged in coaching aspiring finance and accounts professionals to chase their dreams.

A look back into my career path, I find that I did exceptionally well to teach myself much; as all the courses that I chased and accomplished were either self-study modules or of a distant learning pattern. I must be doing something right to be able to ace all the professional courses I set my mind to. I am thus here to share with YOU my insights and understanding in cracking a professional course.


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